MO HB251

Repeals and reenacts section 135.750, RSMo relating to tax credits for qualified film production projects.

Limits tax credits for qualified film production projects to 35 percent of qualifying expenses for taxable years beginning January 1, 2008 through December 31, 2011.

Caps annual tax credits at $4.5 million total for all taxpayers for taxable years 2008-2011.

Allows taxpayers to carry forward unused credits for up to five tax periods, with all credits claimed within ten tax periods of certification.

Terminates tax credit program effective for all tax years beginning January 1, 2012, preventing future tax credits from being issued.